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CNBC
Nov 16, 2012 4:00am EST
with harry reid, mitch mcconnell, john boehner and nancy pelosi at quarter after 10:00 eastern time. mcconnell says republicans won't raise tax rates. the white house says the president won't sign an extension of tax cuts for top earners. chinese officials including the country's vice minister are sounding alarm bells with external risks to growth. they hope the uts will come to an agreement on tax issues or warns the country could face a slide into deep recession. eunice yoom is taking a closer look at the relationship between the two economic super powers and how they're likely to proceed. >> she's sitting down to her regular taste of americana. she and her co-workers dine out at their favorite fast food joint from the west twice a week, exactly the kind of middle income chinese american companies hope will drive their future growth. >> translator: we're used to eating rice, she says. it's convenient and nice to have fast food once in a while and have a change. american companies are hoping gnaw leadership will make it easier to sell to chinese consumers. the two countries are rel
CNBC
Nov 16, 2012 3:00pm EST
mitch mcconnell came out of that meeting in the white house and used the word revenue. it's on want table. they are acknowledging they will raise revenue. the only way i know to raise revenue is to raise taxes. i mean, does it sound to you like there's going to be a tax increase after all? >> no. if you remember, the comment that boehner and mitch mcconnell have made is they want revenue from economic growth. the best way to get revenue for the federal government is to grow the economy faster rather than slower. if you grow at 4% a year instead of 2% a year for one decade, the government raises $5 trillion. that is how you balance the budget. you cut spending, just as the republicans did in the last half of the 1990s. they cut the capital gains tax. we had more growth, and we slowed spending. that's what we need to focus on, not raising taxes on the american people and of course, obama's tax increases are there, but he hasn't put any spending restraint on the table. we look forward to seeing what he might be thinking of. >> mr. norquist, if you had to put money on it, do you think w
CNBC
Nov 16, 2012 9:00am EST
meeting that's about to happen in this building in an hour from now. speaker boehner, senator mcconnell, senator reid, democratic leader pelosi, all will come here and speak for a couple hours. day one of negotiations. nobody is expecting huge news but as jim has already tweeted out this morning, the market is going to look for signs that this tone of compromise that we've heard so much about all week long is that for real or are talks going to break down in early stages? the market specifically is going to depend on that tone today and we'll bring that live when the meeting happens a little after 10:00 a.m. >> we've seen reaction of futures to the possibility of a deal. we've been down for six of the past seven days but the dow this morning implied open is up 33 points. sapp looks s&p looks to add fiv. here we have italy down three-quarter percent and mixed bag for the rest. carl? okay. we're going to go to the road map this morning. that is where carl is in washington d.c. reports this morning that hard decisions surrounding deficit reduction could be kicked down the road until 2013 i
CNBC
Nov 14, 2012 12:00pm EST
he's looking at anyone adversarial right now, maybe mitch mcconnell because he's been so tough on the tax issue. as far as industry, he wants to start out with an open mind, open book, let's sit down and try to figure out ways to work this out, working together. very important he's meeting with the ceos today. i guarantee you, he talks to dimond about these issues regularly. >> lloyd blankfein, you reference the op odd, his words, tax increases for wealthiest are okay. he ends his op-ed today, we're ready to roll up our sleeves and work with the obama administration and congress to helpful fill america's enduring promise. jared, i've got traders on the desk today who probably feel president obama doesn't want to work with them. >> i assure the traders to be more patient. i understand you want to see your guys in that room. they will be soon. the blankfein op-ed was just right in tone. really did strike that balance between revenue increases and spending cuts. it's very important to recognize thus far we actually have cut about a trillion and a half under discretionary spending side. t
CNBC
Nov 14, 2012 7:00pm EST
in compromise. keith, you just contradicted yourselves. >> mitch mcconnell has been the guy out there saying it, and all republicans are not willing to have any new tax increases. >> that's not true. there's a difference between raising revenues and raising taxes. >> no, i said tax increases, though. tell me, am i wrong about that, steve? >> no, you are wrong. >> when did he say differently? >> look, i interviewed him this week. he said it many times. he said it on the senate floor. we're willing to compromise on raising taxes. that's something that a lot of republicans aren't real happy with, but he said look, i'm willing to put revenues on the table. but what he's saying, keith, let's be very clear. >> you're saying revenue. i'm saying tax increases. >> right. >> the bush tax rates -- no, i'm talking about bush tax rates. they expire on december 31st contin. >> that's what republicans won't agree to. the answer is no, we're not going to let those rates go up because it's going to do significant damage to the economy. >> like it did during the clinton administration when they created
CNBC
Nov 8, 2012 6:00am EST
dissident. certainly i thought senator mcconnell unfortunately didn't sound the same, positive note that the others did but look, the president made very clear that he is prepared to sit down across the aisle. in fact started calling republican colleagues. i've been part of, for a year and a half a group of six, it's now a group of eight. we have been working steadily, and there are other groups working. i believe our colleagues if they're prepared to act, will have options to consider when they return. >> i'm just wondering and senator, do you think it's possible that we don't have to -- will the democrats agree not to get to 39.2, is there something else they'd accept, some other way of revenue raising where that top marginal rate doesn't go back, that seems to be something that, ever since the president compromised that first time, it's like it's been set in stone they could never compromise again or the base will just say that he broke his promise. >> you know, there is more than one way to bell the cat, so why are people so fixed on 39.6? it's because of progressivity within the cod
CNBC
Nov 16, 2012 12:00pm EST
you were getting comments from reid, pelosi, boehner and mcconnell? >> trading's so low on the lower end of the trading range, i mentioned yesterday, scott, 1340. we flirted with it today. 1343 the low in the cash. we bounced from there. bounce levels are 1370, 1395. the fact that we're just shy of that, just means that everyone is a little suspect of what's truly going to happen once these fiscal cliff dialogues ratchet up. i would be a seller of these bounces. >> what a significant pop seeing in the stock market, guys. throw up the dow industrials on an intraday. in fact, throw up all three intraday charts because you're going to see quite a dramatic reversal. the dow industrials up 48 points. highs of the day, again, down 50 to 60 points or so as the wraps wrapping up and positive comments of the leaders in the room with the president today. unless you have a rally on wall street and let's get to washington to the north lawn of the white house where john harwood is. this seemed to go as well as one could hope thus far, at least. >> reporter: i think so, scott. we are used to seein
CNBC
Nov 13, 2012 7:00pm EST
somebody else. >> so what is your answer to what mitch mcconnel said? go after rich people. why do it at all? >> it is good to be with you. i think that the minority leader seems to have a math problem. ending the tax cuts for the rich is worth $1 trillion. i think our government spends a little less than $1 trillion. most people think it is $800 billion. this is a ten-year number. you are $80 billion a year. and this is a outside reach. a lot of guys like myself think you are not going to get it. let me ask you this, david, we have a weak economy, i know jobs are growing but they are growing weekly. what sense does it make to raise taxes on anybody when you have such a weak economy. from a economic, not ideal logical stand n point, what sense does it make? >> well, you know larlarry, the labor movement thinks that jobs are the number one agenda here, as you well know, we have had this conversation about your need to do something to get our finances in better shape, the way to do that with the least amount of damage to our economy, is to end the bush tax cuts for the wealthy for those ma
CNBC
Nov 8, 2012 5:00pm EST
binary thing. it's not one day you wake up, make a deal with the house or mitch mcconnell. if there is going to be a deal made it's still going to take a big bite out of spending and therefore out of the gdp. i don't think our economy is as healthy as people think. so if you're asking me, i'm relatively negative. so i have all my stocks and all these things that i own. i have them more than completely hedged, you know, with s&p. >> sure. >> shorts, options. >> carl, i want to turn back to something you own, oshkosh, a 9.5% stake in the company. you had vitriol for the management in response to what they called your bid. >> yeah. >> first of all they said it grossly undervalued the company at an offer of, what was it, 3250 a share? so what do you have to say to them and at this point are you trying to flush out a third-party bid here? >> i'm not trying to flush out a third party bid in oshkosh. i don't think it's the same thing as netflix. i'm not flushing out of netflix either. i agree with the analyst who said it would be the mother of all auctions. with oshkosh, it's different. i
CNBC
Nov 9, 2012 6:00am EST
election. >> and i said this, mcconnell no longer wakes up and goes to sleep thinking i'm going to make this guy a one-termer and obama no longer thinks -- >> i hope you're right. >> he doesn't need to be reelected and mcconnell, the republicans don't need to keep him from being -- so both sides are in a position, that's what you're saying. >> joe, neither you nor i are as rich as governor romney so we can't bet $10,000 but i bet $1. >> wait a second. that's a cheap shot and i am nowhere near as rich but i'll bet you, i don't have to double what you're worth to get to romney. >> i don't -- >> see! >> ralph we cut you off before, you said there were three bs, the first was big, the second was balance. >> the second was balance between taxes and here again, let's talk a little bit about balance first, okay? because you have this massive schism between what's balanced. if you look at 2:1 or 3:1 or 4:1. >> in terms of spending cuts versus revenue raised. >> spending cuts versus revenue raised, 2:1 to 3:1, sounds like a massive gap. if it's 2:1, it's two-thirds expense reductions and on
CNBC
Nov 9, 2012 2:00pm EST
boehner, mitch mcconnell and democratic leaders in congress next week here at the white house. >> john, thank you very much. we'll have more throughout the rest of the day. >>> we do hear this new bond flick "sky fall" is a really big deal. >>> but first, adjusted for inflation. what is the highest grossing bond flick of all time? 1965's "thunderball" starring sean connery. there you go. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800
Search Results 0 to 10 of about 11